Jaro Institute of Technol. Mgt. and Research Ltd Directors Report

In accordance with the Companies Act and our Articles of Association, our Company is required to have not less than three Directors and not more than 15 Directors. As on the date of filing this Draft Red Herring Prospectus, we have six Directors on our Board, comprising three Independent Directors (which includes two women Independent Directors). Our Company is in compliance with the corporate governance norms prescribed under the SEBI Listing Regulations and the Companies Act, in relation to the composition of our Board and constitution of committees thereof.

The following table sets forth the details of our Board as on the date of this Draft Red Herring Prospectus:

Name, designation, date of birth, address, occupation, current term, date of appointment and DIN	Age (years)	Other directorships
Sanjay Namdeo Salunkhe	61	Indian Companies:
Designation: Chairman and Managing Director		Private limited companies
Date of birth: September 3, 1963		• Jaro Fincap Private Limited;
Address: 606/A, Golf Scappe, Sion Trombay Road, Behind IDBI Bank, Chembur, Mumbai 400 071, Maharashtra, India Occupation: Business		• Net HR Solutions (I) Private Limited;
		• Aptness Education Private Limited;
		• Jaro Toppscholars Private Limited;
		• Net Employment Services Private Limited;
Current term: For a period of five years from July 26, 2023 till July 25, 2028		• Verification Solutions Private Limited; and
Period of directorship: Director since incorporation		• Mind Heal Homeopathy Private Limited
DIN: 01900632		Public limited companies
		• Net Education Entrepreneurship and Leadership Limited
Ranjita Raman	42	Indian Companies:
Designation: CEO and Wholetime Director		Private limited companies
Date of birth: March 5, 1982		• Aptness Education Private Limited;
Address: Venezia - 701, Lodha Fiorenza, Near Hub Mall, Goregaon East, Off Western Express Highway, Mumbai Suburban 400 063, Maharashtra, India		• Jaro Toppscholars Private Limited; and
		• Net Employment Services Private Limited.
Occupation: Service Current term: For a period of five years from July 26, 2023 till July 25, 2028 Period of directorship: Since March 20, 2015 DIN: 07132904		Public limited companies Nil
Balkrishna Namdeo Salunkhe	57	Indian Companies:
Designation: Non-Executive Director		Private limited companies
Date of birth: August 24, 1967 Address: B-2, 12th Floor, Flat No. 5 Millennium Towers, Sector 09, Opp. Sitaram Master Garden Sanpada, Navi Mumbai, Sanpada, Thane 400 705, Maharashtra, India		• Net Recruitment Services Private Limited Public limited companies
Occupation: Business		Nil
Name, designation, date of birth, address, occupation, current term, date of appointment and DIN	Age (years)	Other directorships
Current term: Liable to retire by rotation
Period of directorship: Director since December 8, 2010
DIN: 01685311
Ishan Baveja	34	Indian Companies:
Designation: Independent Director		Private limited companies
Date of birth: September 10, 1990		Nil
Address: 250 Indira Nagar P O New Forest, Dehradun, Newforest, Chakrata Dehradun 248 006, Uttarakhand, India		Public limited companies
Occupation: Professional Current term: For a period of five years from February 4,		• Maasheetla Ventures Limited; and • Lifestyle and Media Holdings Limited.
2021 Period of directorship: Director since February 4, 2021 DIN: 07251062
Alpa Antani	49	Nil
Designation: Independent Director
Date of birth: December 24, 1974
Address: B-235 2nd Floor, Block B, Chittranjan Park, Opp. Municipal Corporation Delhi Primary School, South Delhi, Delhi 110 019, India
Occupation: Service
Current term: For a period of three years from January 27, 2024
Period of directorship: Director since January 27, 2024
DIN: 10470840
Vaijayanti Ajit Pandit	71	Indian Companies:
Designation: Independent Director		Private Limited Companies
Date of birth: January 12, 1953		Nil
Address: 30/9 Taj Building, August Kranti Marg, Mumbai - 400 036, Maharashtra, India		Public Limited Companies
Occupation: Service Current term: For a period of three years from May 3, 2024 Period of directorship: Director since May 3, 2024 DIN: 06742237		• P N Gadgil Jewellers Limited; • Everest Kanto Cylinder Limited; • Automatic Corporation of Goa Limited; • I G Petrochemicals Limited; • Tml Business Services Limited; • Indo Count Industries Limited • Tata Motors Insurance Broking and Advisory Services Limited; and • Banswara Syntex Limited.

Sanjay Namdeo Salunkhe is the Chairman and Managing Director of our Company. He holds a degree in bachelors in arts from Osmania University and a diploma in electrical engineering from the Board of Technical Examinations, Maharashtra State. He also holds a degree in bachelor of laws and a degree of master of management studies from the University of Mumbai. He holds a degree of doctor in philosophy from Yashvantrao Chavan Maharashtra Open University Nashik (India). He has also received a certificate for employment of intermediaries CEI (KAH) from the Absolute Kinetics Consultancy Pte. Ltd, an accredited training provider by the Ministry of Manpower, Singapore. Prior to joining our Company, he was associated with Onward Technologies Limited and Lupin Laboratories Limited. He has over 16 years of experience in the education sector. He is responsible for shaping the overall business strategy and vision of our Company.

Ranjita Raman is the Chief Executive Officer and Wholetime Director of our Company. She holds a degree of international master of business administration in marketing from the United Business Institutes, Brussels, Belgium and has completed the senior management programme from Indian Institute of Management, Ahmedabad. She has been associated with our Company since 2010 and has over 15 years of experience in the education sector. She is responsible for the day-to-day operations and expansion of activities of our Company.

Balkrishna Namdeo Salunkhe is the Non-Executive Director of our Company. He holds a bachelors degree in commerce from the University of Bombay and a degree in master of management studies from Chetanas Ramprasad Khandelwal Institute of Management, University of Mumbai. He also holds a post graduate diploma in financial analysis from the Institute of Chartered Financial Analysts of India, a fellow member of the Institute of Costs and Works Accountants of India and is a member of the Council of Chartered Financial Analysts since 1998. Prior to joining our Company, he was associated with Shaivi Investment Consultants Private Limited and Siddhi Marketing Private Limited as a director. He has been a visiting faculty member in Welingker Institute of Management since 1996 and an assistant professor with the Institute for Future Education Entrepreneurship and Leadership since 2015. He has 17 years of experience in operations and client advice.

Ishan Baveja is an Independent Director of our Company. He holds a bachelors degree in commerce from Hemwati Nandan Bahuguna Garhwal University. He is a fellow member of the Institute of Chartered Accountants of India and is a practicing chartered accountant since 2013, and has also completed diploma courses in information systems audit, insurance and risk management and has also completed a masters in business finance certificate course from the Institute of Chartered Accountants of India. He has been a partner with M/s Baveja Gupta & Co. since 2015 and has over 11 years of experience in the accounting sector.

Alpa Antani is an Independent Director of our Company. She holds a masters degree in science in counselling and psychotherapy from Institute of Psychotherapy and Management Services and a degree of master of business administration from the Institute of Chartered Financial Analysts of India University, Tripura. She has completed her doctorate in management studies from the Indian School of Business Management and Administration and has completed the senior management programme from Indian Institute of Management, Ahmedabad. She was previously associated with the Confederation of Indian Industry, the Consulate General of the Kingdom of Netherlands in Mumbai and the Services Export Promotion Council. She has over 15 years of experience in the area of business and trade development.

Vaijayanti Ajit Pandit is an Independent Director of our Company. She holds a bachelors and masters degree in political science from the University of Pune. She has completed her doctorate in management studies from Jamnalal Bajaj Institute of Management Studies, University of Mumbai and has completed a diploma in journalism from Rajendra Prasad Institute of Communication and Management, Mumbai. She was previously associated with the Indian Merchants Chamber, Federation of Indian Chambers of Commerce and Industry and Welingkar Institute of Management Development and Research. She has over 42 years of experience in the area of business and entrepreneurship.

Details of directorship in companies suspended or delisted

None of our Directors is or was a director of any listed company, whose shares have been or were suspended from being traded on any stock exchanges, in the last five years prior to the date of this Draft Red Herring Prospectus, during the term of their directorship in such company.

Further, none of our Directors is, or was, a director of any listed company, which has been or was delisted from any stock exchange during the term of their directorship in such company.

Relationships amongst our Directors and our Directors and Key Managerial Personnel or Senior

Management

Except as stated below, none of our Directors are related to each other, nor are any of our Directors related to any of our Key Managerial Personnel or Senior Management. Further, none of our Key Managerial Personnel are related to any of our Senior Management.

Name of Director/ Key Managerial Personnel / Senior Management	Relationship
Sanjay Namdeo Salunkhe and Balkrishna Namdeo Salunkhe	Brothers

Arrangement or understanding with major Shareholders, customers, suppliers or others

None of our Directors have been appointed on our Board pursuant to any arrangement with our major shareholders, customers, suppliers or others.

Service contracts with Directors

Our Company has not entered into any service contracts with our Directors which provide for benefits upon the termination of their employment.

Borrowing Powers

In accordance with our Articles of Association and the applicable provisions of the Companies Act, and pursuant to a resolution of our Shareholders in their annual general meeting held on December 30, 2022, our Board is authorised to borrow any sums or sums of money by way of cash credit, loan, overdraft, discounting of bills, letter of credit, or any other type of credit line of facility up to an amount not exceeding ? 750.00 million, notwithstanding the money to be borrowed by our Company (apart from the temporary loans obtained by our Companys bankers from time to time) exceed the aggregate, for the time being in force, whether secured or unsecured and remain within the limit specified in the Companies Act.

Terms of appointment of our Directors

Terms of appointment of our Executive Directors

Sanjay Namdeo Salunkhe, Chairman and Managing Director

Sanjay Namdeo Salunkhe was appointed as the Managing Director of our Company pursuant to a resolution passed by our Board on June 22, 2023 and a special resolution passed by our Shareholders on July 24, 2023, for a period of five years with effect from July 26, 2023 till July 25, 2028, subsequently he was designated as the Chairman of our Board pursuant to a resolution passed by our Board on September 26, 2024. The details of the remuneration that he is presently entitled to as per the Board resolution dated July 27, 2024, and the other terms of his employment are enumerated below:

(in ^ million)

Basic salary	12.60
House Rent Allowance	6.30
Conveyance Allowance	0.02
Special Allowance	5.22
Statutory Bonus	1.05
Mobile Allowance	0.01
Domestic Help Reimbursement	0.12
Caretaker Salary Reimbursement	0.01
Driver Salary Reimbursement	0.24
Petrol Reimbursement	0.14
Total Remuneration	25.80

Ranjita Raman, CEO and Wholetime Director

Ranjita Raman was appointed as the Wholetime Director of our Company pursuant to a resolution passed by our Board on June 22, 2023 and a special resolution passed by our Shareholders on July 24, 2023, for a period of five years with effect from July 26, 2023 till July 25, 2028. The details of the remuneration that she is presently entitled to as per the Board resolution dated July 27, 2024, and the other terms of her

employment are enumerated below:

Basic salary	9.00
House Rent Allowance	4.50
Conveyance Allowance	0.02
Other Allowance	3.67
Children Education Allowance	0.01
Leave Travel Allowance	0.02
Medical Reimbursement	0.02
Statutory Bonus	0.75
Domestic Help Reimbursement	0.12
Caretaker Salary Reimbursement	0.10
Driver Salary Reimbursement	0.24
Petrol Reimbursement	0.14
Annual Incentive	3.40
Total Remuneration	22.00

Terms of appointment of our Non-Executive Director

Our Non-Executive Director is entitled to remuneration of ? 25,000.00 per Board Meeting and ? 15,000.00 per meeting of the committees of the Board as per the resolution passed by our Board dated May 3, 2024.

Terms of appointment of our Independent Directors

Pursuant to a resolution of our Board dated May 3, 2024, our Independent Directors are entitled to receive sitting fees of ? 25,000.00 for attending each meeting of our Board, ? 15,000.00 for attending each meeting of the committees of the Board.

Our Company has not entered into any contract appointing or fixing the remuneration of a Director, Whole-Time Director, or manager in the two years preceding the date of this Draft Red Herring Prospectus.

Payments or benefits to our Directors

Executive Directors

The table below sets forth the details of the remuneration (including salaries and perquisites) paid to our Executive Directors for Fiscal 2024:

Sr .T Name of the Executive Director No.	Remuneration for Fiscal 2024 (in ? million)
1. Sanjay Namdeo Salunkhe	9.00
2. Ranjita Raman	15.00

Non-Executive Director

The table below sets forth the details of the remuneration (including salaries and perquisites) paid to our Non-Executive Director for Fiscal 2024:

Sr .T Name of the Executive Director No.	Remuneration for Fiscal 2024 (in ? million)
1. Balkrishna Namdeo Salunkhe	Nil

Independent Directors

The table below sets forth the details of the sitting fees paid to our Independent Directors for the Fiscal 2024:

Sr. Sitting Fees for Fiscal 2024

Name of the Director

No. (in < million)

1 Vaijayanti Ajit Pandit N.A-*

2 Ishan Baveja Nil

3 Alpa Antani Nil

*Since Vaijayanti Ajit Pandit was appointed as an Independent Director in Fiscal 2025, she was not entitled to any remuneration/sitting fees from our Company in Fiscal 2024.

Contingent and deferred compensation payable to the Directors

As on the date of this Draft Red Herring Prospectus, there is no contingent or deferred compensation accrued or payable to the Directors, which does not form part of their remuneration.

Bonus or profit-sharing plan for our Directors

Our Company does not have any bonus or a profit-sharing plan in which our Directors have participated. Shareholding of Directors in our Company

Our Articles of Association do not require our Directors to hold qualification shares.

The table below sets forth details of Equity Shares held by our Directors as on date of this Draft Red Herring Prospectus:

Name	Number of Equity Shares#	Percentage of the preOffer paid up Equity Share capital on a fully diluted basis(%)#	Percentage of the postOffer paid up Equity Share capital on a fully diluted basis (%)*
Sanjay Namdeo Salunkhe	15,834,060	78.20	[•1
Balkrishna Namdeo Salunkhe	457,098	2.26	[•1
Ranjita Raman	166,668	0.82	[•1

# Based on the beneficiary position statement dated September 27, 2024.

* Subject to finalisation of Basis of Allotment.

Interest of Directors

All our Directors may be deemed to be interested to the extent of sitting fees and commission, if any, payable to them for attending meetings of the Board or a committee thereof, as well as to the extent of other remuneration, commission and reimbursement of expenses, if any, payable to them by our Company.

Our Directors may also be regarded as interested to the extent of the Equity Shares, if any, held by them and to the extent of any dividend payable to them and other distributions in respect of these Equity Shares. For details regarding the shareholding of our Directors, see Shareholding of Directors in our Company" on page 264.

Our Directors may be deemed to be interested to the extent of certain related party transactions that were undertaken with them by our Company. Our Directors may also be deemed to be interested in the contract agreement /arrangements entered into or to be entered into by our Company in the normal course of business with any company in which they hold directorships or any partnership firm in which they are partners. For further details, see "Restated Consolidated Financial Information - Note 39 - Related Party Disclosures" on page 325.

Except for Sanjay Namdeo Salunkhe and Balkrishna Namdeo Salunkhe who are the Promoters of our Company, none of our Directors are interested in the promotion of our Company.

Except for the proceeds from the Offer for Sale that will be received by Sanjay Namdeo Salunkhe, there is no material existing or anticipated transaction whereby Directors will receive any portion of the proceeds from the Offer.

Our Directors do not have any interest in any property acquired or proposed to be acquired of or by our Company.

Our Directors do not have any interest in any transaction by our Company for acquisition of land, construction of building or supply of machinery during the three years preceding the date of this Draft Red Herring Prospectus.

Other confirmations

No consideration, either in cash or shares or in any other form have been paid or agreed to be paid to any of our Directors or to the firms, trusts or companies in which they have an interest in, by any person, either to induce any of our Directors to become or to help any of them qualify as a Director, or otherwise for services rendered by them or by the firm, trust or company in which they are interested, in connection with the promotion or formation of our Company.

Further, none of our Directors have been identified as Wilful Defaulters or Fraudulent Borrower as defined under the SEBI ICDR Regulations.

Changes to our Board in the last three years

Except as mentioned below, there have been no changes in our Directors in the last three years:

Name	Designation (at the time of appointment / change in designation / cessation)	Date of appointment / change in designation / cessation	Reason
Siraj Kemalpasha Mulani	Independent Director	June 24, 2024	Cessation as an Independent Director
Vaijayanti Ajit Pandit	Independent Director	May 3, 2024	Appointed as an Independent Director
Renganathan Bashyam	Independent Director	March 31, 2024	Cessation as an Independent Director
Rajendra Namdeo Salunkhe	Non-Executive Director	March 22, 2024	Cessation as a Non-Executive Director
Renganathan Bashyam	Independent Director	November 6, 2023	Appointed as an Independent Director
Alpa Antani	Independent Director	January 27, 2024	Appointed as an Independent Director
Ishan Baveja	Independent Director	February 4, 2021	Appointed as an Independent Director
Rajendra Namdeo Salunkhe	Non-Executive Director	March 2, 2021	Appointed as a Non-Executive Director

Note: This table does not include details of regularisations of additional Directors.

Corporate Governance

The provisions of the Companies Act along with the SEBI Listing Regulations, with respect to corporate governance, will be applicable to our Company immediately upon the listing of the Equity Shares on the Stock Exchanges. Our Company is in compliance with the requirements of the applicable requirements for corporate governance in accordance with the SEBI Listing Regulations, and the Companies Act, including those pertaining to the constitution of our Board and committees thereof.

As on the date of filing this Draft Red Herring Prospectus, we have six Directors on our Board, comprising, of whom three are Independent Directors (which includes two women Independent Directors).

Committees of our Board

In terms of the SEBI Listing Regulations and the provisions of the Companies Act, our Company has constituted the following Board committees:

Audit Committee;

Nomination and Remuneration Committee;

Stakeholders Relationship Committee;

Corporate Social Responsibility Committee; and

For purposes of the Offer, our Board has also constituted an IPO Committee.

Audit Committee

The Audit Committee was constituted by a resolution of our Board dated July 26, 2018 and was last reconstituted by our Board at their meeting held on July 27, 2024. It is in compliance with Section 177 of the Companies Act and Regulation 18 of the SEBI Listing Regulations. The current constitution of the Audit committee is as follows:

Name of Director	Position in the Committee	Designation
Ishan Baveja	Chairman	Independent Director
Vaijayanti Ajit Pandit	Member	Independent Director
Sanjay Namdeo Salunkhe	Member	Chairman and Managing Director

The scope and function of the Audit Committee is in accordance with Section 177 of the Companies Act and Regulation 18 of the SEBI Listing Regulations. Its terms of reference are as follows:

(a) Oversight of the Companys financial reporting process, examination of the financial statements and the auditors report thereon and the disclosure of its financial information to ensure that the financial statements are correct, sufficient and credible;

(b) Recommendation to the board of directors for appointment, re-appointment and replacement, removal, remuneration and terms of appointment of auditors, including the internal auditor, cost auditor and statutory auditor, or any other external auditor, of the Company and the fixation of audit fees and approval for payment for any other services;

(c) Approval of payments to statutory auditors for any other services rendered by the statutory auditors of the Company;

(d) Reviewing, with the management, the annual financial statements and auditors report thereon before submission to the Board for approval, with particular reference to:

(i) Matters required to be included in the Directors Responsibility Statement to be included in the Boards report in terms of clause (c) of sub-section 3 of section 134 of the Companies Act;

(ii) Changes, if any, in accounting policies and practices and reasons for the same;

(iii) Major accounting entries involving estimates based on the exercise of judgment by the management of the Company;

(iv) Significant adjustments made in the financial statements arising out of audit findings;

(v) Compliance with listing and other legal requirements relating to financial statements;

(vi) Disclosure of any related party transactions; and

(vii) Qualifications / modified opinion(s) in the draft audit report.

(e) Reviewing, with the management, the quarterly, half yearly and annual financial statements before submission to the board for approval;

(f) Reviewing, with the management, the statement of uses/application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilised for purposes other than those stated in the offer document/prospectus/notice and the report submitted by the monitoring agency monitoring the utilisation of proceeds of a public or rights issue or preferential issue or qualified institutions placement, and making appropriate recommendations to the Board to take up steps in this matter;

(g) Reviewing and monitoring the auditors independence and performance, and effectiveness of audit process;

(h) Formulating a policy on related party transactions, which shall include materiality of related party transactions;

(i) Approval of any subsequent modifications of transactions of the Company with related parties and omnibus approval (in the manner specified under the SEBI Listing Regulations and Companies Act) for related party transactions proposed to be entered into by the Company. Provided that only those members of the committee, who are independent directors, shall approve related party transactions;

Explanation: The term "related party transactions" shall have the same meaning as provided in Regulation 2(1)(zc) of the SEBI Listing Regulations and/or the applicable Accounting Standards and/or the Companies Act.

(j) Approval of related party transactions to which the subsidiary(ies) of the Company is party but the Company is not a party, if the value of such transaction whether entered into individually or taken together with previous transactions during a financial year exceeds 10% of the annual consolidated turnover as per the last audited financial statements of the Company, subject to such other conditions prescribed under the SEBI Listing Regulations;

(k) Review, at least on a quarterly basis, the details of related party transactions entered into by the Company pursuant to each of the omnibus approvals given;

(l) Scrutiny of inter-corporate loans and investments;

(m) Valuation of undertakings or assets of the company, wherever it is necessary;

(n) Evaluation of internal financial controls and risk management systems;

(o) Reviewing, with the management, performance of statutory and internal auditors, adequacy of the internal control systems;

(p) Reviewing the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure coverage and frequency of internal audit;

(q) Discussion with internal auditors of any significant findings and follow up there on;

(r) Reviewing the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the Board;

(s) Discussion with statutory auditors before the audit commences, about the nature and scope of audit as well as post-audit discussion to ascertain any area of concern;

(t) Looking into the reasons for substantial defaults in the payment to the depositors, debenture holders, shareholders (in case of non-payment of declared dividends) and creditors;

(u) Reviewing the functioning of the whistle blower mechanism;

(v) Approval of the appointment of the Chief Financial Officer of the Company ("CFO") (i.e., the whole-time finance director or any other person heading the finance function or discharging that function and who will be designated as the CFO of the Company) after assessing the qualifications, experience and background, etc., of the candidate;

(w) Carrying out any other functions as provided under or required to be performed by the audit committee under the provisions of the Companies Act, the SEBI Listing Regulations and other applicable laws;

(x) To formulate, review and make recommendations to the Board to amend the Audit Committee charter from time to time;

(y) Establishing a vigil mechanism for directors and employees to report their genuine concerns or grievances;

(z) Carrying out any other function as is mentioned in the terms of reference of the Audit Committee;

(aa) Reviewing the utilization of loans and/or advances from/investment by the holding company in the subsidiary exceeding rupees 100 crore or 10% of the asset size of the subsidiary, whichever

is lower including existing loans / advances / investments existing as per the SEBI Listing Regulations;

(bb) Consider and comment on rationale, cost-benefits and impact of schemes involving merger, demerger, amalgamation etc., on the listed entity and its shareholders; and

(cc) Such roles as may be prescribed under the Companies Act and SEBI Listing Regulations.

Further, the Audit Committee shall mandatorily review the following information:

(a) Management discussion and analysis of financial condition and results of operations;

(b) Management letters/letters of internal control weaknesses issued by the statutory auditors of the Company;

(c) Internal audit reports relating to internal control weaknesses;

(d) The appointment, removal and terms of remuneration of the chief internal auditor shall be subject to review by the Audit Committee;

(e) Statement of deviations:

i. quarterly statement of deviation(s) including report of monitoring agency, if applicable, submitted to stock exchange(s) in terms of Regulation 32(1) of the SEBI Listing Regulations; and

ii. annual statement of funds utilised for purposes other than those stated in the issue document/prospectus/notice in terms of Regulation 32(7) of the SEBI Listing Regulations

The Company Secretary and Compliance Officer of our Company shall serve as the secretary of the Audit Committee.

The Audit Committee is required to meet at least four times in a year under Regulation 18(2)(a) of the SEBI Listing Regulations and not more than 120 days shall elapse between two meetings. The quorum for audit committee meeting shall either be two members or one third of the members of the audit committee, whichever is greater, with at least two independent directors.

Nomination and Remuneration Committee

The Nomination and Remuneration Committee was constituted by a resolution of our Board dated July 26, 2018 and was last re-constituted by our Board at their meeting held on July 27, 2024. The Nomination and Remuneration Committee is in compliance with Section 178 of the Companies Act and Regulation 19 of the SEBI Listing Regulations. The current constitution of the Nomination and Remuneration Committee is as follows:

Name of Director	Position in the Committee	Designation
Ishan Baveja	Chairman	Independent Director
Vaijayanti Ajit Pandit	Member	Independent Director
Balkrishna Namdeo Salunkhe	Member	Non-Executive Director

The scope and function of the Nomination and Remuneration Committee is in accordance with Section 178 of the Companies Act, read with Regulation 19 of the SEBI Listing Regulations. Its terms of reference are as follows:

(a) Formulation of the criteria for determining qualifications, positive attributes and independence of a

director and recommend to the Board a policy, relating to the remuneration of the directors, key managerial personnel and other employees;

The Nomination and Remuneration Committee, while formulating the above policy, should ensure that:

(i) the level and composition of remuneration be reasonable and sufficient to attract, retain and motivate directors of the quality required to run our Company successfully;

(ii) relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and

(iii) remuneration to directors, key managerial personnel and senior management involves a balance between fixed and incentive pay reflecting short and long term performance objectives appropriate to the working of the Company and its goals.

(b) For every appointment of an independent director, the Nomination and Remuneration Committee shall evaluate the balance of skills, knowledge and experience on the Board and on the basis of such evaluation, prepare a description of the role and capabilities required of an independent director. The person recommended to the Board for appointment as an independent director shall have the capabilities identified in such description. For the purpose of identifying suitable candidates, the Nomination and Remuneration Committee may:

(i) use the services of any external agencies, if required;

(ii) consider candidates from a wide range of backgrounds, having due regard to diversity; and

(iii) consider the time commitments of the candidates.

(c) Formulation of criteria for evaluation of performance of independent directors and the Board;

(d) Devising a policy on Board diversity;

(e) Identifying persons who are qualified to become directors of the Company and who may be appointed in senior management in accordance with the criteria laid down, and recommend to the Board their appointment and removal. The Company shall disclose the remuneration policy and the evaluation criteria in its annual report;

(f) Analysing, monitoring and reviewing various human resource and compensation matters;

(g) Determining the Companys policy on specific remuneration packages for executive directors including pension rights and any compensation payment, and determining remuneration packages of such directors;

(h) Recommending to the Board the remuneration, in whatever form, payable to the senior management personnel and other staff (as deemed necessary);

(i) Reviewing and approving compensation strategy from time to time in the context of the then current Indian market in accordance with applicable laws;

(j) Determining whether to extend or continue the term of appointment of the independent director, on the basis of the report of performance evaluation of independent directors;

(k) Perform such functions as are required to be performed by the compensation committee under the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, as amended;

(l) Construing and interpreting the employee stock option scheme/plan approved by the Board and shareholders of the Company in accordance with the terms of such scheme/plan ("ESOP Scheme") and any agreements defining the rights and obligations of the Company and eligible employees under the ESOP Scheme, and prescribing, amending and/or rescinding rules and regulations relating to the administration of the ESOP Scheme;

(m) Framing suitable policies, procedures and systems to ensure that there is no violation of securities laws, as amended from time to time, including:

a. the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, as amended; and

b. the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003, as amended,

by the Company and its employees, as applicable;

(n) Performing such other activities as may be delegated by the Board of Directors and/or are statutorily prescribed under any law to be attended to by the Nomination and Remuneration Committee.

(o) Such terms of reference as may be prescribed under the Companies Act and SEBI Listing Regulations.

The Nomination and Remuneration Committee is required to meet at least once in a year under Regulation 19(3A) of the SEBI Listing Regulations.

The quorum for a meeting of the Nomination and Remuneration Committee shall be two members or one third of the members of the committee, whichever is greater, but there should be a minimum of one independent director.

Stakeholders Relationship Committee

The Stakeholders Relationship Committee was constituted by a resolution of our Board dated July 26, 2018 and was last reconstituted by our Board at their meeting held on July 27, 2024. The Stakeholders Relationship Committee is in compliance with Section 178 of the Companies Act and Regulation 20 of the SEBI Listing Regulations. The current constitution of the Stakeholders Relationship Committee is as follows:

Name of Director	Position in the Committee	Designation
Vaijayanti Ajit Pandit	Chairman	Independent Director
Ishan Baveja	Member	Independent Director
Balkrishna Namdeo Salunkhe	Member	Non-Executive Director

The scope and function of the Stakeholders Relationship Committee is in accordance with Regulation 20 of the SEBI Listing Regulations. Its terms of reference are as follows:

(a) Redressal of all security holders and investors grievances including complaints related to transfer/transmission of shares, non-receipt of share certificates and review of cases for refusal of transfer/transmission of shares and debentures, non-receipt of declared dividends, non-receipt of annual reports, issue of new/duplicate certificates, etc., and assisting with quarterly reporting of such complaints;

(b) Reviewing of measures taken for effective exercise of voting rights by shareholders;

(c) Investigating complaints relating to allotment of shares, approval of transfer or transmission of shares, debentures or any other securities;

(d) Giving effect to all transfer/transmission of shares and debentures, dematerialisation of shares and rematerialisation of shares, split and issue of duplicate/consolidated share certificates, compliance with all the requirements related to shares, debentures and other securities from time to time;

(e) Reviewing the measures and initiatives taken by the Company for reducing the quantum of unclaimed dividends and ensuring timely receipt of dividend warrants/annual reports/statutory notices by the shareholders of the Company;

(f) Reviewing the adherence to the service standards by the Company with respect to various services rendered by the registrar and transfer agent of the Company and to recommend measures for overall improvement in the quality of investor services; and

(g) Carrying out such other functions as may be specified by the Board from time to time or specified/provided under the Companies Act or SEBI Listing Regulations, or by any other regulatory authority.

The Stakeholders Relationship Committee is required to meet at least once in a year under Regulation 20(3A) of the SEBI Listing Regulations. The quorum for a meeting of the Stakeholders Relationship Committee shall be two members.

Corporate Social Responsibility Committee

The Corporate Social Responsibility Committee was constituted by a resolution of our Board dated December 27, 2016 and was re-constituted by our Board at their meeting held on July 27, 2024. The current constitution of the Corporate Social Responsibility Committee is as follows:

Name of Director	Position in the Committee	Designation
Sanjay Namdeo Salunkhe	Chairman	Chairman and Managing Director
Ishan Baveja	Member	Independent Director
Balkrishna Namdeo Salunkhe	Member	Non-Executive Director

The scope and function of the Corporate Social Responsibility Committee is in accordance with Section 135 of the Companies Act. Its terms of reference are as follows:

(a) To formulate and recommend to the board, a corporate social responsibility policy which shall indicate the activities to be undertaken by the Company as specified in Schedule VII of the Companies Act and the rules made thereunder and make any revisions therein as and when decided by the Board;

(b) To identify corporate social responsibility policy partners and corporate social responsibility policy programmes;

(c) To recommend the amount of expenditure to be incurred for the corporate social responsibility activities and the distribution of the same to various corporate social responsibility programmes undertaken by the Company;

(d) To formulate the annual action plan of the Company;

(e) To delegate responsibilities to the corporate social responsibility team and supervise proper execution of all delegated responsibilities;

(f) To review and monitor the implementation of corporate social responsibility programmes and issuing necessary directions as required for proper implementation and timely completion of corporate social responsibility programmes; and

(g) To perform such other duties and functions as the Board may require the corporate social responsibility committee to undertake to promote the corporate social responsibility activities of the Company and exercise such other powers as may be conferred upon the CSR Committee in terms of the provisions of Section 135 of the Companies Act, as amended.

IPO Committee

The IPO committee was constituted by a resolution of our Board dated May 3, 2024. The current constitution of the IPO committee is as follows:

Name of Director	Position in the Committee	Designation
Sanjay Namdeo Salunkhe	Chairman	Chairman and Managing Director
Balkrishna Namdeo Salunkhe	Member	Non- Executive Director
Ranjita Raman	Member	CEO and Whole Time Director

The terms of reference of the IPO Committee are as follows:

i. The IPO Committee has been constituted to decide the terms and conditions of the Issue, finalisation and filing of the Draft Red Herring Prospectus and this Red Herring Prospectus with SEBI, the Stock Exchanges and other regulatory bodies as may be required;

ii. Handle all matters relating to appointment of intermediaries and advisors in relation to the IPO;

iii. Deciding on allocation of the equity shares to specific categories of persons;

iv. Opening of bank accounts, securities account, escrow or custodian accounts, submitting applications and seeking listing of Equity Shares with the Stock Exchanges;

v. Determining and finalising the price band, bid opening and closing date of this Issue, approving and finalising the ‘Basis of Allocation;

vi. Determining the price at which the Equity Shares are to be offered to the investors;

vii. Settling difficulties and doubts arising in relation to the IPO;

viii. Empowering the authorized officers to enter into and execute any agreements or arrangements in relation to the IPO; and

ix. Carry out all acts and take all decisions as may be necessary for the purposes of the IPO and listing.

Key Managerial Personnel

In addition to Sanjay Namdeo Salunkhe, the Chairman and Managing Director and Ranjita Raman, the CEO and Wholetime Director of our Company whose details are set out in Briefprofiles of our Directors on page 260

above, the details of our other Key Managerial Personnel as on the date of this Draft Red Herring Prospectus are as set forth below:

Sankesh Kashinath Mophe is the Chief Financial Officer of our Company. He has been associated with our Company since March 1, 2011 and has been designated as the Chief Financial Officer of our Company with effect from September 16, 2023. He holds a bachelors and masters degree in commerce from University of Mumbai and a diploma in tax management from Welingkar Institute. Prior to joining our Company, he was associated with Olympia Seating Private Limited. He has over 16 years of experience in finance and accounting. In Fiscal 2024, the remuneration paid to him was ? 1.54 million.

Kirtika Chauhan is the Company Secretary and Compliance Officer of our Company. She has been associated with our Company since March 1, 2024 and has been designated as the Company Secretary and Compliance Officer of our Company with effect from July 27, 2024. She is an associate member of the Institute of Company Secretaries of India. Prior to joining our Company, she was associated with RSC Infratech Developers LLP. She has over two years of experience in secretarial and compliance functions. In Fiscal 2024, the remuneration paid to her was ? 0.02 million.

Senior Management

In addition to Sankesh Kashinath Mophe, the Chief Financial Officer and Kirtika Chauhan, the Company Secretary and Compliance Officer of our Company, whose details are provided in "- Key Managerial Personnel on page 274, the details of our other Senior Management as on the date of this Draft Red Herring Prospectus are as set forth below:

Sushant Mallya is the Vice President - Human Resource of our Company. He has been associated with our Company since September 1, 2010. He holds a bachelors and a masters degree in commerce from the University of Mumbai. Prior to joining our Company, he was associated with Future Education Limited. He has over 18 years of experience in human resources management. In Fiscal 2024, the remuneration paid to him was ? 2.25 million.

Viral Kadakia is the Vice President - Sales (Degree Program) of our Company. He has been associated with our Company since December 1, 2009. He holds a bachelors degree in commerce from University of Mumbai, a masters degree in business administration from Maharashtra Institute of Technology, Pune (distance learning programme) and has completed advance strategic management program from the Indian Institute of Management, Lucknow. Prior to joining our Company, he was associated with Virgin Mobile, India. He has over 15 years of experience in sales. In Fiscal 2024, the remuneration paid to him was ? 2.69 million.

Anand Krishnan Thiraviyam is the Vice President - Sales (Certification Program) of our Company. He has been associated with our Company since September 1, 2010. He holds a bachelors degree in management studies from the University of Mumbai and has completed the executive programme in strategic management from Indian Institute of Management, Lucknow. He has over 13 years of experience in sales. In Fiscal 2024, the remuneration paid to him was ? 3.05 million.

M A Prashanth Kumar is the Manager - IT and Admin of our Company. He has been associated with our Company since August 10, 2011. He holds a bachelor of arts from Bhartiya Shiksha Parishad, Uttar Pradesh and a post graduate diploma in management from Maharashtra Institute of Technology, School of Distance Education. He was previously associated with Eprosys as a hardware engineer. He has over 20 years of experience in information technology services. In Fiscal 2024, the remuneration paid to him was ? 0.84 million.

Supriya Surendra Gade is the Chief Manager - Marketing of our Company. She has been associated with our Company since June 27, 2013. She has completed her bachelors of science from University of Mumbai in 2013. She has over 11 years of experience in marketing. In Fiscal 2024, the remuneration paid to her was ? 1.87 million.

Shraddha Sachin Jadhav is the Senior Manager (Back End Operations) in our Company. She has been associated with our Company since 2009. She holds a bachelors degree in commerce from the University of Mumbai. Prior to joining our Company, she was associated with Eins Education. She has over 11 years of experience in the education sector. In Fiscal 2024, the remuneration paid to her was ? 1.32 million.

Relationships among our Key Managerial Personnel and Senior Management

None of our Key Managerial Personnel or Senior Management are related to each other.

Arrangements or understanding with major Shareholders, customers, suppliers or others

None of our Key Managerial Personnel or Senior Management have been selected pursuant to any arrangement or understanding with any major Shareholders, customers or suppliers of our Company, or others.

Changes in the Key Managerial Personnel or Senior Management in last three years

Except as mentioned below, there have been no changes in our Key Managerial Personnel or Senior Management in the last three years:

Name	Date of change	Reason
Neha Upadhyay	January 1,2022	Resignation as the Company Secretary
Prajakta Bhor	May 3, 2022	Appointment as the Company Secretary
Prajakta Bhor	April 16, 2023	Resignation as the Company Secretary
Anchal Jain	April 16, 2023	Appointment as the Company Secretary
Sankesh Kashinath Mophe	September 11, 2023	Resignation as Chief Financial Officer
Arijit Bandyopadhyay	September 11, 2023	Appointment as Chief Financial Officer
Arijit Bandyopadhyay	September 16, 2023	Resignation as Chief Financial Officer
Sankesh Kashinath Mophe	September 16, 2023	Appointment as Chief Financial Officer
Anchal Jain	October 21, 2023	Resignation as the Company Secretary
Kritika Chauhan	March 1,2024	Appointment as the Company Secretary

The rate of attrition of our Key Managerial Personnel and Senior Management is not high in comparison to the industry in which we operate.

Status of Key Managerial Personnel and Senior Management

As on the date of this Draft Red Herring Prospectus, all our Key Managerial Personnel and Senior Management are permanent employees of our Company.

Retirement and termination benefits

Our Key Managerial Personnel or Senior Management have not entered into any service contracts with our Company which include termination or retirement benefits. Except statutory benefits upon termination of their employment in our Company or superannuation, none of the Key Managerial Personnel or Senior Management is entitled to any benefit upon termination of employment or superannuation.

Shareholding of the Key Managerial Personnel and Senior Management

None of our other Key Managerial Personnel and Senior Management hold any Equity Shares in our Company, except as disclosed under Shareholding of Directors in our Company" on page 264 and in the table below as

on the date of this Draft Red Herring Prospectus:

Name	Number of Equity Shares#	Percentage of the preOffer paid up Equity Share capital on a fully diluted basis (%)#	Percentage of the postOffer paid up Equity Share capital on a fully diluted basis (%)*
Sankesh Kashinath Mophe	1,110	0.01	[•1
Sushant Mallya	2,667	0.01	[•1
Viral Kadakia	2,667	0.01	[•1
Anand Krishnan Thiraviyam	2,667	0.01	[•1
Supriya Surendra Gade	468	Negligible	[•1
Shraddha Sachin Jadhav	933	Negligible	[•1
M A Prashanth Kumar	616	Negligible	M

# Based on the beneficiary position statement dated September 27, 2024

* Subject to finalisation of Basis of Allotment.

Contingent and deferred compensation payable to Key Managerial Personnel and Senior Management

As on the date of this Draft Red Herring Prospectus, there is no contingent or deferred compensation which accrued to our Key Managerial Personnel and Senior Management for Fiscal 2024, which does not form part of their remuneration for such period.

Bonus or profit-sharing plan of the Key Managerial Personnel and Senior Management

Our Company does not have a bonus or profit-sharing plan for our Key Managerial Personnel and Senior Management.

Interest of Key Managerial Personnel and Senior Management

Our Key Managerial Personnel and Senior Management are interested in our Company to the extent of the remuneration or benefits to which they are entitled to as per their terms of appointment and reimbursement of expenses incurred by them during the ordinary course of their service.

Our Key Managerial Personnel and Senior Management may also be deemed to be interested to the extent of any dividend payable to them and other distributions in respect of Equity Shares held by them in our Company.

Employee stock option and stock purchase schemes

None of our Key Managerial Personnel and Senior Management hold any ESOPs in our Company, except as disclosed in the table below as on the date of this Draft Red Herring Prospectus:

Name	Number of ESOPs held
Ranjita Raman	162,500
Sankesh Kashinath Mophe	1,417
Viral Kadakia	2,000
Sushant Mallya	3,375
Anand Krishnan Thiraviyam	1,842
Supriya Surendra Gade	2,250
Shraddha Sachin Jadhav	1,438
M A Prashanth Kumar	1,126

Payment or Benefit to officers of our Company (non-salary related)

No non-salary related amount or benefit has been paid or given within the two years preceding the date of the Draft Red Herring Prospectus or is intended to be paid or given to any officer of our Company, including our Directors, Key Managerial Personnel and Senior Management.

OUR PROMOTERS AND PROMOTER GROUP

Our Promoters

As on the date of this Draft Red Herring Prospectus, our Promoters are Sanjay Namdeo Salunkhe and Balkrishna Namdeo Salunkhe.

As on the date of this Draft Red Herring Prospectus, our Promoters shareholding in our Company is as follows:

Sr. No.	Name of the Promoter	Number of Equity Shares*	% of pre-Offer issued, subscribed and paid-up Equity Share Capital on a fully diluted basis of the Company#*
1.	Sanjay Namdeo Salunkhe	15,834,060	78.20
2.	Balkrishna Namdeo Salunkhe	457,098	2.26
	Total	16,291,158	80.46

*Based on the beneficiary position statement dated September 27, 2024 # Assuming exercise of all vested stock options by the employees under the ESOP Plan

For details of the build-up of the Promoters shareholding in our Company, see "Capital Structure - Details of shareholding of our Promoter and members of the Promoter Group in our Company, on page 101.

Details of our individual Promoters

Sanjay Namdeo Salunkhe

Sanjay Namdeo Salunkhe, aged 61 years, is the Chairman and Managing Director of our Company. He is an Indian national. For details of his educational qualifications, residential address, date of birth, experience, positions and posts held in the past, other directorships and interest in other entities, business, financial activities and special achievements, see "Our Management on page 259. Other than the entities forming part of the Promoter Group, Sanjay Namdeo Salunkhe is not involved in any other ventures.

His PAN is AAGPS2938F.

Balkrishna Namdeo Salunkhe

Balkrishna Namdeo Salunkhe, aged 57 years, is the non-executive director of our Company. He is an Indian national. For details of his educational qualifications, residential address, date of birth, experience, positions and posts held in the past, other directorships and interest in other entities, business, financial activities and special achievements, see "Our Management on page 259. Other than the entities forming part of the Promoter Group, Balkrishna Namdeo Salunkhe is not involved in any other ventures.

His PAN is AKTPS3222P.

Our Company confirms that the PAN, driving license number, Aadhar card number, bank account number and passport number of Sanjay Namdeo Salunkhe and Balkrishna Namdeo Salunkhe would be submitted to the Stock Exchanges at the time of filing of this Draft Red Herring Prospectus.

Changes in control

There has not been any effective change in the management and control of our Company in the five years immediately preceding the date of this Draft Red Herring Prospectus.

Interest of our Promoters

Our Promoters are interested in our Company to the extent: (1) that they have promoted our Company; (2) of their respective shareholding, the shareholding of their relatives and entities in which the Promoters are interested and which hold Equity Shares in our Company and the dividend payable upon such shareholding, if any, and other distributions in respect of the Equity Shares held by them, their relatives or such entities, if any; (3) of being Director and Key Managerial Personnel of our Company and the sitting fees /remuneration, benefits and reimbursement of expenses, payable to them, as per the terms of his employment agreement, as applicable, payable by our Company to them; and (4) that our Company has undertaken transactions with them, or their relatives or entities in which our Promoters hold shares or has an interest, if applicable. For further details, see "Capital Structure", "Our Management", and "Offer Document Summary - Summary of Related Party Transactions" on pages 84, 259 and 24, respectively.

Further, Sanjay Namdeo Salunkhe and Balkrishna Namdeo Salunkhe are also directors on the boards, or are shareholders, members or partners of certain entities forming part of the Promoter Group, Group Companies, and may be deemed to be interested to the extent of the payments made by our Company, if any, to such entities forming part of the Promoter Group, Group Companies. For the payments that are made by our Company to certain entities forming part of the Promoter Group, Group Companies, see " Offer Document Summary - Summary of Related Party Transactions" on page 24.

Our Promoters are not interested in any transaction in acquisition of land, construction of building or supply of machinery.

Our Promoters are not interested as members of a firm or a company, and no sum has been paid or agreed to be paid to our Promoters or to such firm or company in cash or shares or otherwise by any person either to induce our Promoters to become, or qualify them as directors, or otherwise for services rendered by our Promoters or by such firm or company in connection with the promotion or formation of our Company.

Our Promoters do not have any interest, whether direct or indirect, in any property acquired by our Company within the preceding three years from the date of this Draft Red Herring Prospectus or proposed to be acquired by it as on the date of this Draft Red Herring Prospectus.

Except as stated in "Offer Document Summary - Summary of Related Party Transactions" on page 24, there has been no payment of any amount or benefit given to our Promoters or Promoter Group during the two years preceding the date of filing of the Draft Red Herring Prospectus nor is there any intention to pay any amount or give any benefit to our Promoters or Promoter Group as on the date of filing of this Draft Red Herring Prospectus.

Companies or firms with which our Promoters have disassociated in the last three years

Our Promoters have not disassociated themselves from any company or firm during the three years preceding the date of filing of the Draft Red Herring Prospectus.

Confirmations

Our Promoters have not been declared as a Wilful Defaulter or Fraudulent Borrower.

Our Promoters and the members of our Promoter Group have not been prohibited from accessing or operating in capital markets under any order or direction passed by SEBI or any other regulatory or governmental authority.

Our Promoters are not and has never been promoters, directors or persons in control of any other company which is prohibited from accessing or operating in capital markets under any order or direction passed by SEBI or any other regulatory or governmental authority.

Our Promoters are not involved in any venture that is in the same line of activities or business as that of our Company.

Material guarantees

Our Promoters have not given any material guarantee to any third party, in respect of the Equity Shares, as of the date of this Draft Red Herring Prospectus.

Promoter Group

Persons constituting the Promoter Group (other than our Promoters) of our Company in terms of Regulation 2(1) (pp) of the SEBI ICDR Regulations 2018 are set out below:

Natural persons forming part of our Promoter Group (other than our Promoters):

Sr. No.	Name of the individuals
Sanjay Namdeo Salunkhe
1.	Anita Sanjay Salunkhe (Spouse)
2.	Rajendra Namdeo Salunkhe (Brother)
3.	Uday Namdeo Salunkhe (Brother)
4.	Balkrishna Namdeo Salunkhe (Brother)
5.	Sania Sanjay Salunkhe (Daughter)
6.	Ujwala P. Pawar (Sister)
7.	Harish Gopinath Kale (Brother of Spouse)
8.	Seema Chandrashekhar Chore (Sister of Spouse)
Balkrishna Namdeo Salunkhe
1.	Meena Balkrishna Salunkhe (Spouse)
2.	Sanjay Namdeo Salunkhe (Brother)
3.	Rajendra Namdeo Salunkhe (Brother)
4.	Uday Namdeo Salunkhe (Brother)
5.	Ujwala P. Pawar (Sister)
6.	Sandeep Venkatesh Prabhu (Brother of Spouse)
7.	Sakshi Santosh Bandelkar (Sister of Spouse)
Entities forming part of our Promoter Group:
Sr. No.	Name of the entities
Sanjay Namdeo Salunkhe
1.	Net HR Solutions (I) Private Limited
2.	Net Recruitment Services Private Limited
3.	Verification Solution Private Limited
4.	Net Education Entrepreneurship and Leadership Limited
5.	NET Employment Services Private Limited
6.	Aptness Education Private Limited (formerly known as Jaro Education Private Limited)
7.	Jaro Toppscholars Private Limited
8.	Jaro Fincap Private Limited
9.	Global Education Trust
10.	LNS Trust
11.	VNS Trust
12.	Fidelis Management Consultants Private Limited
13.	Aquamist Realty LLP
14.	Fidelis Media Management Services LLP
15.	Media Custodian Services LLP
Balkrishna Namdeo Salunkhe
1.	NET Employment Services Private Limited
2.	Aptness Education Private Limited (formerly known as Jaro Education Private Limited)
3.	Jaro Toppscholars Private Limited
Sr. No.	Name of the entities
4.	Jaro Fincap Private Limited
5.	Global Education Trust
6.	LNS Trust
7.	VNS Trust